Analysts Set GFL Environmental Inc. (NYSE:GFL) Price Target at $42.64

GFL Environmental Inc. (NYSE:GFL) has been given an average rating of “Moderate Buy” by the ten ratings firms that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $42.64.

A number of equities analysts have recently commented on the stock. TD Cowen raised their price objective on shares of GFL Environmental from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Raymond James raised their price target on shares of GFL Environmental from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. BMO Capital Markets cut shares of GFL Environmental from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $43.00 to $42.00 in a report on Tuesday, July 9th. Finally, Royal Bank of Canada lifted their price objective on GFL Environmental from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd.

Hedge Funds Weigh In On GFL Environmental

A number of large investors have recently modified their holdings of GFL. Harbert Fund Advisors Inc. purchased a new position in shares of GFL Environmental during the fourth quarter worth approximately $1,329,000. Vanguard Group Inc. lifted its stake in GFL Environmental by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 7,231,470 shares of the company’s stock worth $249,558,000 after purchasing an additional 77,156 shares during the last quarter. CIBC Asset Management Inc boosted its position in GFL Environmental by 13.2% during the fourth quarter. CIBC Asset Management Inc now owns 2,520,450 shares of the company’s stock valued at $87,225,000 after buying an additional 294,432 shares during the period. 1832 Asset Management L.P. grew its stake in shares of GFL Environmental by 27.6% during the fourth quarter. 1832 Asset Management L.P. now owns 804,540 shares of the company’s stock valued at $27,765,000 after buying an additional 173,800 shares during the last quarter. Finally, Toronto Dominion Bank increased its holdings in shares of GFL Environmental by 33.8% in the first quarter. Toronto Dominion Bank now owns 74,152 shares of the company’s stock worth $2,558,000 after buying an additional 18,742 shares during the period. 64.70% of the stock is owned by hedge funds and other institutional investors.

GFL Environmental Stock Up 0.5 %

GFL Environmental stock opened at $42.25 on Friday. The firm has a market capitalization of $15.91 billion, a price-to-earnings ratio of 40.24 and a beta of 1.16. The firm has a 50 day simple moving average of $39.23 and a 200 day simple moving average of $35.96. GFL Environmental has a 1-year low of $26.87 and a 1-year high of $42.26. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.29.

GFL Environmental (NYSE:GFL) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. GFL Environmental had a positive return on equity of 3.26% and a negative net margin of 8.78%. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.51 billion. On average, analysts predict that GFL Environmental will post 0.71 earnings per share for the current year.

GFL Environmental Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th were issued a $0.014 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date was Monday, July 15th. GFL Environmental’s payout ratio is currently 4.76%.

About GFL Environmental

GFL Environmental Inc offers non-hazardous solid waste management and environmental services in Canada and the United States. It offers solid waste management, liquid waste management, and soil remediation services, including collection, transportation, transfer, recycling, and disposal services for municipal, residential, and commercial, and industrial customers.